Data and AI platform Databricks raises $1.6 billion, valued at $38 billion

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By Jane Lanhee Lee
OAKLAND, Calif. (Reuters) - Databricks, a data analytics platform that uses artificial intelligence, said on Tuesday it raised $1.6 billion to expand its engineering team to keep its lead in the market, a funding round that valued it at $38 billion.
The massive fund injection “does not push out the IPO”, said Ali Ghodsi, co-founder and CEO. He declined to say when Databricks was planning to go public or whether it would go the traditional route or use a direct listing where companies list existing shares without issuing new shares or raising new funds.
Ghodsi did rule out going public through a merger with a blank-check firm or a special purpose acquisition company (SPAC), a popular way for many startups to list.
“I think SPACs are ...


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